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Tesla CEO Elon Musk said he may be willing to buy one of the plants General Motors is planning to close if the automaker is willing to sell the property to him."It's possible that we would be interested. If they were going to sell a plant or not use it that we would take it over," he said in an interview on "60 Minutes."GM announced late last month that it was planning to shut down five plants in North America next year including the Detroit Hamtramck assembly and Warren transmission plants.A plant in Lordstown, Ohio, is also scheduled to close.Tesle actually bought a plant jointly owned by General Motors and Toyota back in 2010 for million. It is now one of the company's main production facilities. 730
That feeling of watching a loved one open a handpicked gift won’t exist for many this holiday season. And between the shipping delays and the call to stay at home this holiday season, the ways people can gift -- especially last minute -- are limited.AAA predicts that 34 million fewer Americans are travelling this holiday season compared to last year.“People are realizing or have realized over the last month that they had to change how they approach the holiday season,” Darrin Duber-Smith, a consumer behavior expert and professor at Metropolitan State University of Denver, said.Part of that is thanks to e-commerce. The IBM U.S. retail index shoes the pandemic has accelerated the move toward online shopping by five years.The National Retail Federation predicts that 60 percent of holiday shopping with be done online this year, up from 56 percent in 2019.“Our buying patterns have shifted almost entirely online over the last 9 months,” Duber-Smith said. “So many more goods and services are now available online. So many more than even a year ago, so I think consumers have a lot more choices that they can send.”However, the flower bouquets and gift cards can seem impersonal.“I really think all bets are off during the pandemic, but there’s going to be lasting effects in consumer attitude and behavior going forward,” he said. “Getting a gift basket that may or may not have a holiday greeting on it is becoming the norm.”“It’s an hour of work to send someone a gift,” Edward Lando, co-founder of Goody Technologies, said. “If you think about it, you need someone’s address. You need to pick out a gift. You need to make sure if you can add a note. You need to make sure it can get there on time, all that stuff.”Lando played a role in creating a solution to the problem by creating Goody, a gifting app that lets you send someone a gift in seconds. All you need is a phone number -- no address.“It’s not a normal form of buying something online, and it's not only e-commerce. It’s like a messaging experience,” Lando said.The app gives the gift recipient the whole experience of opening a gift virtually -- and the ability to swap out a gift for one of similar value if the recipient doesn’t like it. It also speaks to the need for the gratification the gift giver gets.“There's a huge psychological component to gift giving,” Duber-Smith said.“When you send a gift to someone and they open it, you get a little notification that says, ‘Melissa opened your gift,'” Lando explained. “And then you get another one that says she accepted your gift and added a note.”Gifting trends are also shifting to more experiences. “Those are the things that are more personal than gift cards because you understand what the consumer likes,” Duber-Smith said.And it’s something you can give this holiday season that doesn’t require shipping. “2021 could be the year for experiences as sort of everyone gets out,” he said.As you shop for your last minute gifts this week, consider how you’re shopping. “I think what it did is it exposed how important e-commerce is to everyone,” Duber-Smith said. 3101

Support is growing for early voting, but there's still a lot of distrust for voting by mail.Just over 3 in 10 people say they're very confident their vote will be counted accurately if they vote by mail. Nearly 7 in 10 say the same thing about voting in person on Election Day. That's according to a new poll from the University of Maryland and The Washington Post.There's a big racial disparity in perceptions about election integrity. About 71% of Black Americans in the poll say it’s easier for white Americans to vote, while only 34% of white Americans believe that's the case.“There's a historic trend of distrust in government amongst racial and ethnic minorities,” said Jonathan Collins, education and political science assistant professor at Brown University. “And instances like this during the need to transition to mail-in voting. This is where that distrust really kind of rears its head.Collins studies ethnic minority political behavior. He says campaigns from state attorneys would be helpful to reassure people their mail-in ballots will be counted properly.The U.S. Postal Service is trying to educate people on its role in the mail-in voting process with TV ads. It says the nonpartisan campaign neither encourages nor discourages mail-in voting. Collins expects a lot of African Americans are still going to prefer in-person voting.“There is this sense of pride that you get from showing up to your precinct, to your polling station on Election Day and in-person casing your vote. There's a pride of wearing the 'I voted' sticker around for your friends and our family and your coworkers to see. How do we replicate that feeling of pride?”About 6 in 10 registered voters nationwide say they want to cast their ballot before Election Day. Compare that to 2016, when about 4 in 10 people cast ballots early.For mail-in voters worried about their vote not counting, many states allow residents to track their ballot. NBC News reports that all states allow this, except for the following: Connecticut, Hawaii, Illinois, Indiana, Maine, Mississippi, Missouri, New Mexico, and New York.Also, many states allow mail-in voters to submit their ballots at designation drop-off boxes, if they don't want to trust the USPS.Click here for tips from the USPS on voting by mail. 2290
TAMPA BAY, Fla. — About four million Kia and Hyundai vehicle owners are one step closer to receiving a piece of the nearly 0 million settlement over an engine defect linked to cars and SUVs spontaneously bursting into flames.The settlement deal, first announced last year, would cover reimbursement for past repairs and expenses, free repair or replacement of damaged engines, denied warranty coverage, and loss of vehicle value.ABC Action News I-team Investigator Jackie Callaway first exposed the cause behind these fires in the report “Up in Flames” in 2018.That’s also the year Tisha VanAllen’s 2011 Kia Optima caught fire as she was driving down a Mississippi highway.“The car started stuttering and I pulled over and when I did it was just engulfed in flames,” she said.VanAllen became trapped in the burning car.“I tried my passenger door, my driver's door, it would not budge,” she said.Panicking, she kicked at the door and window before a truck driver pulled over and wrestled the door open.“He kept yanking on the door handle until he finally got it to open up and he just grabbed me and yanked me out,” she said.The loss of her car devastated the finances of the single mother of four. And at one point she faced eviction.“It just put me in a downward spiral,” VanAllen said.Kia and Hyundai, under the settlement terms, will pay VanAllen and millions of other drivers’ repairs, damage, and loss of vehicle value.Kia did not respond to a request for comment but a Hyundai spokesperson wrote in an email that, "this settlement acknowledges our sincere willingness to take care of customers impacted by issues with this engine’s performance....."The class-action lawsuit includes drivers who owned or leased the following vehicles with 2.0-liter or 2.4-liter gasoline direct injection engines:2011-2019 Hyundai Sonata2013-2019 Hyundai Santa Fe Sport2014-2015 and 2018-2019 Hyundai Tucson2011-2019 Kia Optima2012-2019 Kia Sorento2011-2019 Kia SportageA federal court hearing for final approval is set for November 12 and a judge is expected to grant formal approval of the settlement before the end of the year. The automakers are already sending out claim forms to affected drivers who can expect to start receiving checks in 2021.VanAllen said it can’t happen soon enough.“I am glad they are taking the responsibility for it,” she said. “Because it really put me in a really bad hardship.”This story was first reported by Jackie Callaway at WFTS in Tampa Bay, Florida. 2489
Stocks tumbled Friday as trade tensions between the United States and China heated up.The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.Friday's losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.Trump said late Thursday that he was considering tariffs on 0 billion more in Chinese exports, which would triple what the United States is already planning."The fear of a policy mistake on trade is increasing," said Art Hogan, chief market strategist at B. Riley FBR.All 30 companies on the Dow lost ground on Friday. Caterpillar, Boeing and Nike, giants with heavy exposure in China, were among the biggest losers in the index."The ratcheting up of trade tensions clearly carries risks. The tariff threats, even if only intended as bargaining tools, will be difficult to back down from if talks fail to deliver results," Capital Economics' Julian Evans-Pritchard wrote in a research note Friday.Anxiety returned to Wall Street after three days of gains. The VIX, a measure of market volatility, spiked 12%. CNNMoney's Fear and Greed index sank further into "extreme fear" territory.Wary investors had been holding out hope that the two sides will reach a deal before the proposed trade barriers go into effect.White House officials, including top economic adviser Larry Kudlow, have sought in recent days to soothe business leaders' fears of a trade war that would constrain economic growth.Earlier this week, the Trump administration announced plans for tariffs on billion worth of Chinese goods in retaliation for China's alleged theft of US intellectual property. Beijing fired back hours later by threatening tariffs on billion worth of US goods, including cars, planes and soybeans.The market had been interpreting Trump's proposed tariffs as negotiating tactics meant to extract concessions out of China rather than a rigid position. But Wall Street began to reassess that view as the administration sent conflicting signals throughout the day."We've gone from Larry Kudlow trying to calm the markets down to the administration saying, 'Hey, ignore the markets,'" Hogan said.In a radio interview Friday morning, Trump said, "I'm not saying there won't be a little pain, but the market has gone up 40%, 42%, so we might lose a little bit of it."Selling accelerated later in the day after Treasury Secretary Steve Mnuchin told CNBC, "There is the potential of a trade war."Investors had been operating under the assumption China and the United States were negotiating to avoid a trade conflict, but Mnuchin avoided questions about whether the two countries were actively talking."As no one came out to pull this back, there was a gradual realization that this was something that might be a little more serious," said Brad McMillan, chief investment officer for Commonwealth Financial Network.Analysts said the market also responded to comments from Federal Reserve Chair Jerome Powell.Powell said that the US economy was growing and a turbulent stock market would not change the Fed's course to gradually raise interest rates. The Fed is on track to raise rates three times this year, but it could speed up that process to cool down the economy."Markets are forced to confront the idea that rates are going up and the stock market is not going to derail that process," McMillan said.Stocks were mostly unaffected by the March jobs report, which showed that the US economy added 103,000 positions, down from a much bigger gain in February and well below what analysts were expecting.Wages grew 2.7% in March compared with a year earlier, in line with expectations. Investors were watching that number because it's a barometer of inflation. In February, an unexpected jump in wage growth set off inflation alarm bells and caused stocks to plunge.The combination of the hiring slowdowns and modest wage growth temporarily eased Wall Street's concerns that the economy was overheating.The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78% after the jobs report."Investors breathed a sigh of relief," said Sam Stovall, chief investment strategist at CFRA Research. "Now we only have one issue to deal with, and that's trade."—CNNMoney's Paul R. La Monica contributed to this report.The-CNN-Wire 4564
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